When the economy enters a recession, automatic stabilizers create:
A. higher taxes.
B. more discretionary spending.
C. budget deficits.
D. budget surpluses.
Answer: C
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Which of the following is a normative statement?
A) The price of candy bars is $1.25 each. B) Candy bars are more expensive than newspapers. C) You should eat less candy. D) Popcorn and candy are sold in movie theaters.
Early unions were considered by the courts to be
a. harmless b. legal if they operated within a state's borders c. a criminal conspiracy d. in the public's interest e. illegal only in transportation industries such as railroads
What is the primary function of a bank? Why do people prefer banks over other financial intermediaries?
All opportunity costs are
a. Nonmonetary b. Forgone monetary payments c. Losses of time d. Values of alternatives that must be given up e. Related to educational opportunities